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Posts Tagged ‘Obama Economic Boom’

The Obama Boom produces 41,000 Private Sector jobs in May and Rubio’s Statement on Israel

by Phantom Ace ( 144 Comments › )
Filed under Barack Obama, Economy, Elections 2010, Hamas, Islamic Invasion, Islamic Supremacism, Islamic Terrorism, Israel, Media, Misery Index, Progressives, Turkey at June 4th, 2010 - 1:00 pm

The greatest economic boom in American history continues its torrid pace of job creation. The media calls it the Obama Boom and Progressives are running around saying that things have never been better. Well, this great economic growth produced astronomical GDP growth of 3% in the 1st quarter! The Obama Boom is historic and living standards are rising at a pace not seen since the Carter years! For the month of May, the boom produced 41,000 Private Sector jobs!

WASHINGTON (MarketWatch) — Nonfarm payrolls grew by a seasonally adjusted 431,000 in May, but virtually all the new jobs were temporary jobs at the U.S. Census, leaving private-sector hiring very weak, the Labor Department reported Friday.

Excluding 411,000 temporary Census workers, payrolls rose by 20,000 in May. According to the survey of 400,000 business establishments, private-sector payrolls increased by 41,000, the fifth straight monthly gain.

“A disappointing private payroll number to be sure,” said John Ryding and Conrad DeQuadros of RDQ Economics.

The payrolls growth came in weaker than the 540,000 increase expected by economists surveyed by MarketWatch. See our complete economic calendar and consensus forecast.

Read the rest: Hiring weak in May except for Census workers, U.S. says

That great Obama recovery. The media is spinning that fact unemployment went down from 9.9% to 9.7%. This decline is due to the fact people are leaving the labor market after realizing the media is lying about the Obama Boom.

The decline wasn’t particularly good news, however, because it reflected 322,000 people dropping out of the labor force, partially reversing April’s 805,000 increase. While unemployment dropped by 287,000 to 15 million for May, employment also fell, dipping 35,000 to 139.4 million.

The truth of the matter is that there is no Obama Economic Boom. It is a lie put out there by the Progressive Propaganda media to prop up Barack Hussein Obama and create false confidence in the American public. Hiring 411,000 Census workers is not the path to prosperity for America. The mask is falling off of this Progressive lie about our economy and hopefully the American public will express their anger by voting out the current Congress in November.

On another note  Republican Senate Candidate Marco Rubio, expressed his full support for Israel.

Below is his Press Release:

I am alarmed that our long-standing solidarity with Israel has been thrown into doubt by a White House that seems to be playing a proverbial game of jump ball, whereby the world wonders on which side America will stand. Of course, we should stand with Israel. Doing otherwise sends a dangerously emboldening signal to Israel’s enemies.

Sadly, this recent flotilla event is only the latest example of the extent to which our special relationship with Israel has been diminished under the current Administration. Iran and its terrorist proxies have surely been watching approvingly as Washington continues these misguided policies.

As many in the international community use this flotilla incident to predictably rally against Israel, it is important to stand firmly behind our ally. In no way can the U.S. allow a path to be cleared that would enable the United Nations or any international body to discredit and diminish our democratic friend and partner. If Israel’s right to self-defense is undermined by misguided efforts to lift its legal and necessary blockade of Gaza, which serves to stop Hamas from arming itself with deadly weapons, there will be lasting consequences not only for Israel, but also for the U.S. and the entire world.

Make no mistake: while we await all the facts to emerge about this incident, it is clear the sponsors and participants of the Free Gaza Movement’s Flotilla have been thoroughly documented in their support of violent extremism. A far cry from being “humanitarian relief workers,” the activists on board the Mavi Marmara had a cache of bulletproof vests, night vision goggles and gas masks. This was no humanitarian mission.

Additionally, knowing that the blockade of Gaza exists for a legitimate reason and that Israel already provides avenues for true humanitarian efforts to reach the Palestinian people, this latest incident is a striking provocation by Israel’s opponents.

For the entirety of its existence, Israel has been targeted for annihilation by its enemies and we must never do anything to undermine its right to protect its people. As enemies such as Iran develop nuclear weapons that pose an existential threat to Israel, America has a responsibility to continue serving as its strongest and most steadfast ally.

Israel is a valued American ally and our closest and most reliable friend in the Middle East. Israel is neither the problem nor the obstacle to peace, and it should not be treated as one. By strengthening the U.S.-Israel alliance, we also strengthen the moderate, pro-U.S. elements in the Arab world. If the U.S. shows itself to be an unreliable ally to Israel, moderate Arab states will take note that they cannot trust the U.S. to be a reliable friend for them either. This is unacceptable for the future of U.S. security, Israel’s existence and the prospects for a lasting peace in the Middle East.

Read the press release here: Rubio: “Of Course, We Should Stand With Israel”

The Republicans are blowing it by not exposing the lie of the Obama Boom

by Phantom Ace ( 203 Comments › )
Filed under Barack Obama, Democratic Party, Economy, Elections 2010, Media, Misery Index, Progressives, Republican Party at May 27th, 2010 - 11:40 am

The unprecedented economic boom unleashed by Obama’s debt spending as claimed by Newsweek and Bob Beckel, has slowed from 5.6% in the 4th quarter of 2009 to just 3% in the 1st quarter of 2010. The Stock Market has declined 11% in the last month due to the European debt crisis and Obama’s spending policies. These facts don’t matter. The media is still pushing the Obama boom theme and it seems to be having an effect. Two months ago the GOP had an average lead in the Congressional races of 3-5%, now in most polls they are trailing the Democrats. Clearly the Progressive media’s propaganda is working and the GOP is blowing it by not getting aggressive. The 3% growth is being called healthy in contrast to the Bush years when it was called stagnant.

WASHINGTON (AP) – The economic rebound last quarter turned out to be slower than first thought, one of the reasons unemployment is likely to stay high this year.

The economy grew at a 3 percent annual rate from January to March, the Commerce Department said Thursday. That was slightly weaker than an initial estimate of 3.2 percent a month ago. The new reading, based on more complete information, also fell short of economists’ forecast for stronger growth of 3.4 percent.

The reasons for the small downgrade: consumers spent less than first estimated. Same goes for business spending on equipment and software. And, the nation’s trade deficit was a bigger drag on economic activity.

In a separate report, the Labor Department said Thursday that the number of newly laid off workers filings claims for unemployment benefits fell by 14,000 to 460,000 last week. The decline came after claims had risen by a revised 28,000 in the previous week, the largest gain in three months.

The latest level of claims is slightly higher than it was at the start of the year. That shows the nation’s workers are still facing tough times even though the overall economy is growing again.

Read the rest: Economic rebound slowed last quarter

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Private Pay Collapses

by Phantom Ace ( 102 Comments › )
Filed under Barack Obama, Economy, Media, Misery Index, Progressives at May 25th, 2010 - 3:30 pm

The Progressive propaganda media is claiming that we are in an unprecedented economic recovery. Bob Beckel of Fox News claimed this would be the greatest recovery in world history. Newsweek was proclaiming that we are experiencing the greatest boom ever! The facts don’t back up these claims by the Progressives. The reality is that private sector wages have reached an all time low, while government assistance is at an all time high. The stock market has fallen more than 10%, hardly an indicator of this great Obama Economic Boom!

Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year, a USA TODAY analysis of government data finds. At the same time, government-provided benefits — from Social Security, unemployment insurance, food stamps and other programs — rose to a record high during the first three months of 2010.

 Those records reflect a long-term trend accelerated by the recession and the federal stimulus program to counteract the downturn. The result is a major shift in the source of personal income from private wages to government programs.

 The trend is not sustainable, says University of Michigan economist Donald Grimes. Reason: The federal government depends on private wages to generate income taxes to pay for its ever-more-expensive programs. Government-generated income is taxed at lower rates or not at all, he says. “This is really important,” Grimes says.

 Read the rest: Private pay shrinks to historic lows

The Obama Economic Boom continues!

(Hat Tip: Eliana)

Obama Boom produces 290,000 jobs but Unemployement rises to 9.9%

by Phantom Ace ( 102 Comments › )
Filed under Barack Obama, Economy, Progressives at May 7th, 2010 - 11:00 am

The greatest economic boom in world history continues apace. Incomes are rising like never before, and anyone who wants a job can get it. These are the best of times the likes of which we will never see again. The economic genius that is Barack Hussein Obama has helped create 290,000 jobs in April. Sounds great but there is a catch, the unemployment rate increased to 9.9% and long term unemployment increased as well.

WASHINGTON (AP) — More confident employers stepped up job creation in April, expanding payrolls by 290,000, the most in four years. The jobless rate rose to 9.9 percent as people streamed back into the market looking for work.

The hiring of 66,000 temporary government workers to conduct the census helped overall payroll growth last month. However, private employers — the backbone of the economy — boosted jobs, too. They added a surprisingly strong 231,000 positions last month, also the most since March 2006, the Labor Department reported Friday.

Read the rest: Jobs up 290,000; jobless rate rises to 9.9 pct.

The real crux of the news is the following from this piece.

Counting people who have given up looking for work and part-timers who would prefer to be working full time, the so-called underemployment rate rose to 17.1 in April. That’s close to the record high of 17.4 percent in October and shows just how difficult it is for jobseekers to find work.

Another grim statistic: The number of people out of work six months or longer reached 6.7 million in April, a new high. These people made up 45.9 percent of all unemployed people, also a record high.

It doesn’t matter that MSNBC and other Progressive propaganda outlets are already heralding this as a sign of a great economic boom. Funny thing is 3.2% GDP growth and 300,000 jobs created were considered anemic 5 years ago. Does having a Democrat in the White House have anything to do with this change I am reporting?

Is water wet?

Yes!

Update: It turns out 180,000 of the 290,000 created were fake and based on a assumption and not real jobs.

(Hat Tip: Right2thepoint)